AF7003 - Financial Crime: Law and Regulation

What will I learn on this module?

Financial crimes such as money laundering, terrorist finance, corruption and bribery are the focus of national and international collaborative efforts to counter threat to the integrity of national and international financial markets and system. Emphasis is placed upon international and national legal and regulatory frameworks to combat financial crime. Thus, in addition to examining the national regulatory environment (with emphasis on the UK) it is important to be aware of the role and influence of major international bodies and institutions such as the FATF, Egmont and Basle. The module will enable you to develop your knowledge and critical understanding of the frameworks in place for the prevention, detection and investigation of these three interrelated areas.

Specifically the module aims to:

1. Develop a critical understanding of financial crimes, their typologies and the legal and regulatory framework underpinning their prevention.
2. Develop a critical understanding of the ethical and practical implications for individuals, institutions and society arising from investigation, prevention and detection of financial crimes such as money laundering, terrorist finance, bribery and corruption.

In this module, you will learn:
The definition, characteristics and effects of financial crimes such money laundering, corruption and bribery
National and international legal and regulatory requirements related to the combating of financial crime
Role and responsibilities regulators and regulated entities
Schemes used to commit financial crimes
Issues arising from the prosecuting of financial crime

How will I learn on this module?

You will be supported by a teaching and learning plan which outlines the formal sessions, together with tutor-directed study and independent reading. For full time/part-time delivery an interactive approach to sessions will draw upon the directed learning undertaken and participants’ own experiences. Throughout, the emphasis will be on high levels of participation, both individually and within small groups or teams. Participants can therefore expect the reflective-practitioner approach to learning to be embedded in all sessions through undertaking activities which facilitate them to apply theory to ‘real-life’ situations, critically analysing and making recommendations for appropriate ways forward for the organization/individual.

A similar pedagogic approach for DL students will be enabled through asynchronous interaction with peers and module teams facilitated via blackboard functionalities. On-line lectures and supporting materials will be research-led with a significant practical component attached to them. The modular based discussion forum will provide an opportunity for students and the teaching team to interact and discuss the materials with other students in diverse context. The emphasis will be on high levels of participation via a discussion forum both individually and within small groups or teams. Participants can therefore expect the reflective-practitioner approach to learning to be embedded in the online workshops by undertaking activities that will allow them to engage critically with the materials discussed in the module.

The assignment requirements will expect students to engage with a wide range of scholarly sources to evaluate their effectiveness and currency and subsequently communicate them in written format.

Directed learning will centre upon a range of activities including pre-reading, preparation for interactive activities and use of the discussion board on the e-learning platform.

Independent learning will centre upon the students identifying and pursuing areas of interest in relation to forensic accounting and by providing deeper/broader knowledge and understanding of the subject through a range of learning activities that will include extended reading, reflection, research etc.

Critical reflection on knowledge, experience and practice underpins the learning and teaching philosophy along with the explicit development of competence.

How will I be supported academically on this module?

The university is well-placed to support you in learning and research with a world-class library and teaching facilities. You will also have access to a wide variety of materials provided by the Association of Certified Fraud Examiners (ACFE). These materials include interviews with white-collar criminals; ACFE’s reading materials, case studies, additional Blackboard materials, and access to Northumbria University’s library and database. In addition, there will be an induction programme to introduce you to the university and the course. You will also be assign a personal tutor to provide pastoral support and guidance throughout the course, English for Specific Academic Purposes (ESAP), summative and formative feedbacks, and a module handbook detailing the course structure and university requirements will be provided to you.

What will I be expected to read on this module?

All modules at Northumbria include a range of reading materials that students are expected to engage with. The reading list for this module can be found at:
(Reading List service online guide for academic staff this containing contact details for the Reading List team –

What will I be expected to achieve?

Knowledge & Understanding:
At the end of the module, you will be able to:
-Demonstrate a critical understanding of financial crimes, their typologies and the legal and regulatory framework underpinning their prevention.
-Demonstrate a critical understanding of the ethical and practical implications for individuals, institutions and society arising from the prosecution of particular financial crimes
Intellectual / Professional skills & abilities:
-Developed the skills and abilities to plan their own work to take account of financial crime legislation and procedures.
Personal Values Attributes (Global / Cultural awareness, Ethics, Curiosity) (PVA)
-Develop an understanding of the code of ethics and code of conducts required of professionals and organisations
-Enhance their cultural awareness through working in multicultural teams

How will I be assessed?

Formative assessment will take place through group work, assignment discussion and reflection, discussion board activity on the e-learning platform, case study activity, and theory/practice related discussions. Criteria will be provided to enable participants to understand what is expected of them and how they will be assessed on their performance. Participants are required to demonstrate self-reflection and reflective practice where appropriate. Formative feedback will be provided throughout the module, particularly in relation to seminar tasks. Students should, however be aware that formative feedback can, and will, occur in any communication with an academic tutor.

Summative will be through both a short answer closed book exam (30%) and 3000 word written assignment (70%).


No pre-requisite required


No pre-requisite required

Module abstract


Course info

Credits 20

Level of Study Postgraduate

Mode of Study 1 year full-time

Department Newcastle Business School

Location City Campus, Northumbria University

City Newcastle

Start September 2024

Fee Information

Module Information

All information is accurate at the time of sharing. 

Full time Courses are primarily delivered via on-campus face to face learning but could include elements of online learning. Most courses run as planned and as promoted on our website and via our marketing materials, but if there are any substantial changes (as determined by the Competition and Markets Authority) to a course or there is the potential that course may be withdrawn, we will notify all affected applicants as soon as possible with advice and guidance regarding their options. It is also important to be aware that optional modules listed on course pages may be subject to change depending on uptake numbers each year.  

Contact time is subject to increase or decrease in line with possible restrictions imposed by the government or the University in the interest of maintaining the health and safety and wellbeing of students, staff, and visitors if this is deemed necessary in future.


Useful Links

Find out about our distinctive approach at

Admissions Terms and Conditions

Fees and Funding

Admissions Policy

Admissions Complaints Policy